Evolent Health, Inc (NYSE:EVH) Receives $6.08 Average PT from Analysts

Evolent Health, Inc (NYSE:EVH) has been given a consensus rating of “Moderate Buy” by the seventeen analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $6.0769.

A number of equities analysts have commented on the stock. Canaccord Genuity Group lifted their price objective on shares of Evolent Health from $4.00 to $6.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Weiss Ratings reissued a “sell (e+)” rating on shares of Evolent Health in a research report on Wednesday, June 24th. Citigroup raised their target price on shares of Evolent Health from $4.00 to $5.50 and gave the stock a “buy” rating in a research note on Friday, May 15th. Truist Financial downgraded shares of Evolent Health from a “buy” rating to a “hold” rating and set a $7.00 target price for the company. in a report on Tuesday. Finally, Needham & Company LLC upped their price target on shares of Evolent Health from $4.00 to $5.00 and gave the company a “buy” rating in a research note on Thursday, May 7th.

Institutional Investors Weigh In On Evolent Health

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Evolent Health by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 10,966,830 shares of the technology company’s stock worth $92,779,000 after purchasing an additional 45,299 shares during the last quarter. Durable Capital Partners LP acquired a new position in Evolent Health in the 2nd quarter valued at $72,326,000. Eventide Asset Management LLC grew its holdings in Evolent Health by 54.0% in the 3rd quarter. Eventide Asset Management LLC now owns 6,292,511 shares of the technology company’s stock valued at $53,246,000 after buying an additional 2,205,659 shares in the last quarter. Rubicon Founders LLC bought a new position in Evolent Health during the 3rd quarter worth $49,204,000. Finally, 8 Knots Management LLC bought a new position in Evolent Health during the 2nd quarter worth $32,802,000.

Evolent Health Price Performance

NYSE:EVH opened at $5.70 on Monday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 2.46. The stock’s 50 day moving average price is $4.32 and its two-hundred day moving average price is $3.60. The firm has a market capitalization of $640.91 million, a price-to-earnings ratio of -1.20 and a beta of 0.76. Evolent Health has a 12-month low of $2.10 and a 12-month high of $12.06.

Evolent Health (NYSE:EVH) last issued its earnings results on Thursday, May 7th. The technology company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.03. Evolent Health had a positive return on equity of 0.36% and a negative net margin of 26.29%.The company had revenue of $496.25 million during the quarter, compared to the consensus estimate of $534.00 million. During the same period in the previous year, the company posted $0.06 EPS. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, analysts anticipate that Evolent Health will post -0.16 earnings per share for the current year.

Evolent Health Company Profile

Evolent Health, Inc is a U.S.-based healthcare technology and services company that partners with health systems, physician organizations and health plans to design, build and operate value-based care programs. Headquartered in Arlington, Virginia, the company was founded in 2011 as a joint venture between TPG and the University of Pittsburgh Medical Center (UPMC). Evolent Health aims to help its clients transition from fee-for-service payment models to value-based care arrangements by leveraging its proprietary technology platforms and clinical expertise.

The company’s core offerings include care management solutions, population health analytics and clinical advisory services.